Interim AMD CEO Seifert: 'I'm Not Just Warming A Chair'7:37 PM EST Thu. Jul. 21, 2011
Advanced Micro Devices interim CEO Thomas Seifert is tired of hearing about the vacuum in leadership at AMD, as evidenced by his remarks during the company's earnings call Thursday.
"I'm not sitting here warming a chair," Seifert said during the call, in response to a question about the company's ability to meet its established goals without a chief executive officer.
AMD named CFO Thomas Seifert as interim CEO in January, when Dirk Meyer resigned after a dispute with the board of directors over the direction of the company. According to reports, AMD's board was concerned about the company's failure to gain CPU market share under Meyer's watch, and with its lack of a presence in the tablet market.
The unfilled CEO position has some partners worried, but AMD's view is that Seifert and his executive team are doing so well that AMD can afford to take its time in finding his replacement.
"Thanks to the hard work of AMD’s management team led by Thomas Seifert, the company continues to execute well on its priorities and strategy and our operations remain sound," an AMD spokesperson said in an e-mail to CRN on Thursday. "This has afforded the Board the flexibility and latitude to invest in the time to find the right candidate with the vision and experience to lead AMD into the future."
Seifert has been with AMD since 2009 and has previously served as COO and CFO of Qimonda AG and senior vice president and general manager of Infineon AG's Wireless Business Group.
AMD shares have dropped more than 25 percent since Meyer's resignation, but earnings increased during both Q1 and Q2 under Seifert's watch.
"The search is a priority, and the Board is moving the process forward to ensure that they select a person with the right vision, experience, and track record to lead AMD into the future and create increased shareholder value over time," the spokesperson said.